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Daily November 5, 2014
Exclusive ORYZA E-Newsletter
DAILYCompiled EXCLUSIVE ORYZA E-NEWSLETTER & Edited by Riceplus Magazine November 5, 2014
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November 5, 2014
DAILY EXCLUSIVE ORYZA E-NEWSLETTER News Headlines… Global Rice Quotes Ghana Should Enhance Rice Production Capacity Before Banning Imports, Says Grains Expert The Gambia Reiterates Plans to End Rice Imports by 2016 Ufra Disease Threatens Rice Yields in Myanmar Iran Rules Out Further Rice Imports in 2014 Oryza U.S. Rough Rice Recap – Prices Hold as Market Awaits Iraqi Tender Results Oryza Overnight Recap - Chicago Rough Rice Futures Dragged Lower by Bearish Grains Oryza Afternoon Recap - Chicago Rough Rice Futures Continue to add to Yesterday’s Gains Despite Negativity in Neighboring Grain Pits
Chinese COLOR SORTER as low as Pak Rs 22 Lakh Only A Time Limited Offer Contact: Cell: 0300 414 3493
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November 5, 2014
DAILY EXCLUSIVE ORYZA E-NEWSLETTER
News Details...
Global Rice Quotes November 5th, 2014 Long grain white rice - high quality Thailand 100% B grade 425-435 Vietnam 5% broken 430-440 ↔ India 5% broken 410-420 ↔ Pakistan 5% broken 395-405 ↔ Cambodia 5% broken 465-475 ↔ U.S. 4% broken 540-550 ↔ Uruguay 5% broken 595-605 ↔ Argentina 5% broken 595-605 ↔
↔
Long grain white rice - low quality Thailand 25% broken NQ ↔ Vietnam 25% broken 395-405 Pakistan 25% broken 350-360 Cambodia 25% broken NQ India 25% broken 370-380 U.S. 15% broken 510-520
↔ ↔ ↔ ↔ ↔
Long grain parboiled rice Thailand parboiled 100% stxd 410-420 Pakistan parboiled 5% broken stxd 425-435 India parboiled 5% broken stxd 390-400 U.S. parboiled 4% broken 580-590 ↔ Brazil parboiled 5% broken 585-595 ↔ Uruguay parboiled 5% broken NQ ↔ Long grain fragrant rice Thailand Hommali 92% 865-875 Vietnam Jasmine 570-580 ↓ India basmati 2% broken NQ ↔ Pakistan basmati 2% broken NQ ↔ Cambodia Phka Malis 855-865 Brokens Thailand A1 Super
330-340
↔ ↔ ↔
↓
↔
↔
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Vietnam 100% broken Pakistan 100% broken stxd Cambodia A1 Super NQ India 100% Broken stxd Egypt medium grain brokens U.S. pet food 445-455 Brazil half grain NQ
330-340 320-330 ↔ 315-325 NQ ↔ ↔ ↔
↔ ↓ ↔
All prices USD per ton, FOB vessel, oryza.com
Ghana Should Enhance Rice Production Capacity Before Banning Imports, Says Grains Expert Nov 04, 2014
Ghana government's plans to place an outright ban on rice imports is a welcome move since it eases pressure on the country's foreign exchange reserves, but the nation is still not ready for implementing such a plan, the Managing Director (MD) of Ghana Grains Council (GGC) was quoted as saying in a workshop conducted for rice value chain stakeholders. According to local sources, the workshop was conducted by the GGC, the Ghana Standards Authority (GSA) and the National Metrology Institute of Germany (PTB) to help rice farmers and other stakeholders such as traders, processors and buyers identify quality infrastructure gaps within the rice value chain and work towards pegging them. They were encouraged to set achievable targets and strive for the improvement of rice output in the country. The MD of the GGC, which intervenes in the grains value chain to help increase productivity, quality as well as their marketing, noted that Ghana still has a lot to achieve before banning imports because Ghana produces only 35% of the required demand of around one million tons Riceplus Magazine wwww.ricepluss.com mujahid.riceplus@gmail.com Cell: +92 321 369 2874
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November 5, 2014
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and imports the rest. Other speakers in the workshops added that there are huge gaps between the desired quality and quantity of production and the reality. They said all the stakeholders need to bridge this gap as soon as possible to achieve significant increase in production. They noted that once the desirable capacity of production is reached, the rice sector would be easily achieve self-sufficiency in rice production. Ghana's annual rice import bill stood at $306 million in 2013 and it is planning to increase rice production by about 20% per annum over the next four years to make the country self-sufficient in rice and subsequently ban rice imports. According to the USDA, Ghana’s rice production is estimated at about 332,000 tons (milled basis) in MY 2014-15 (October - September). The U.S. agency expects Ghana to import 620,000 tons of rice during the year to meet consumption needs of around one million tons of rice. Tags: Ghana rice production, Ghana rice imports, Ghana grains council
The Gambia Reiterates Plans to End Rice Imports by 2016 Nov 04, 2014
The Gambian President has reaffirmed that the government would end rice imports by the end of 2016, according to local sources.The President, who was visiting the Kerewan Demba village in the Niamina East District of the Central River Region (CRR) where around 116.5 hectares of land has been allotted to rice cultivation, told local reporters that the government is hopeful of achieving the task under the "Vision 2016 Rice Self-Sufficiency" agenda. The visit was a part of the agenda to ensure its implementation is moving smoothly. He noted that the government is aiming at increasing paddy rice acreage to around 450,000 hectares and production to around 2 million tons over the next two years and eventually aim for Riceplus Magazine wwww.ricepluss.com mujahid.riceplus@gmail.com Cell: +92 321 369 2874
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November 5, 2014
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exporting rice. The Minister of Agriculture added that they have also identified another four to five thousand hectares of land, which is ideal for rice cultivation. He added that they also have support of the World Bank and International Fund for Agricultural Development (IFAD) to achieve this herculean task. The government is looking forward to harvest first crop under the Vision 2016 agenda this December. They are also planning to harvest four crops a year and achieve their target within the stipulated time. In July this year, the President hinted at a possible retraction of import ban depending on the production levels in 2014 and 2015. He noted that the rice import ban would hold good if the country produced sufficient rice to meet local demand by 31 December 2015. The President was severely criticized when he declared his stance in June 2013. Still some feel the goal as unrealistic given that The Gambia currently produces only 20% of its rice consumption needs and it would need to increase its rice production by fivefold or more to reach self-sufficiency target. Experts say any ban on rice imports without sufficient production may result in rice smuggling as in the case of Nigeria. USDA estimates The Gambia to produce around 35,000 tons of rice and import around 125,000 tons in MY 2014-15 (October - September) to meet consumption needs of around 170,000 tons. Tags: Gambia rice production, Gambia rice imports, Vision 2016 Rice Sufficiency agenda
Ufra Disease Threatens Rice Yields in Myanmar Nov 04, 2014
Rice yields in major rice growing regions of Myanmar are likely to be affected by the outbreak of Ufra disease, which is caused by a tiny nematode called Ditylenchus angustus, according to local sources.
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The disease mostly affects the inner part of unmerged leaves and does not allow grains to grow sufficiently, thereby affecting yields. It initially causes discoloration of rice plants and eventually leads to crop failure. The disease was first spotted in 2002, when about 15% of farmers were affected. However, due to improper containment strategies, the disease has been recurring every year. This year, local sources say heavy monsoon rains have led to increased spread of the disease and about 68% of rice farmers are understood to be affected by the disease. In some districts, nearly 55% of rice farms are likely to be spoilt. Officials of the Myanmar Agriculture Service say the disease can be contained by taking some measures such as burning crop residue, planting short-life rice varieties and proper water management. However, farmers are less educated and often lack understanding about preventive measures. Rather they use high pesticides to contain such diseases, they say. Though the officials know the underlying reason for the outbreak of the rice disease, they cannot afford to make frequent visits to help farmers easily diagnose and respond to the early outbreaks of Ufra due to insufficient funds. Also adequate funds are not allocated to build embankments, floodgates and other basic infrastructure that would aid farmers to control the disease. Ufra thrives mostly in high humid areas especially during heavy rain and flooding. It is most prevalent in South Asian countries such as India, Bangladesh, Myanmar and Thailand. USDA estimates Myanmar to produce 18.68 million tons of paddy rice (around 11.96 million tons, milled basis) and export around 1.3 million tons of milled rice in MY 2013-14 (January December 2014). Tags:Myanmar rice yields, Ufra rice disease
Iran Rules Out Further Rice Imports in 2014 Nov 04, 2014
Iran is likely to cut down on further imports in 2014 as it has surplus stocks that accrued from high imports last year as well as high seasonal yield this year, according to local sources. The Minister of Agriculture was quoted as saying that there is as such no restriction or ban on Riceplus Magazine wwww.ricepluss.com mujahid.riceplus@gmail.com Cell: +92 321 369 2874
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rice imports but the reduction is only temporary as the existing socks are sufficient to meet the consumption needs of the country for the remaining part of the year. He noted that rice imports have been halted for last few months. He told local sources that the rice market is fairly regulated and prices move in line with demand and supply conditions. Exporting countries like India and Thailand may facing a tough time due to Iran's stance of temporarily halting rice imports. The Middle East nation's decision to revise the accepted level of arsenic content in basmati rice from 150 parts per million (ppm) to 120 ppm has significantly reduced India's basmati rice exports to Iran. Its stance to increase the import duty for basmati rice to 45% from 22% in September has further snubbed down India's basmati rice exports to Iran. Similarly Thailand is also trying to reinstate its exports to Iran after the Middle East nation halted imports from the South East Asian country following a default by a private rice exporter in 2011. Iran is an important destination for India's basmati rice and constitutes about 30% of India's total basmati rice exports. India exported around 1.44 million tons to Iran in FY 2013-14 (April March), which is around 36% of India's total basmati rice exports of around 4 million tons during the period, according to data from Agricultural and Processed Food Products Export Development Authority (APEDA). USDA estimates Iran to produce around 1.683 million tons of rice and import around 1.7 million tons in MY 2014-15 (October - September) to meet the consumption demand of around 3.45 million tons. Tags: Iran rice imports
Oryza U.S. Rough Rice Recap – Prices Hold as Market Awaits Iraqi Tender Results Nov 04, 2014
The U.S. cash market was seen steady today with little change in prices. Analysts contend that the price direction for the U.S. market going forward will likely be determined by the outcome of Riceplus Magazine wwww.ricepluss.com mujahid.riceplus@gmail.com Cell: +92 321 369 2874
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November 5, 2014
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the latest Iraqi tender which we expect to have results on later this week. As of today, offers could we unchanged near $12.00-$12.35 per cwt fob farm (about $265-$272 per ton) while bids could still be found around $12.00-$12.25 per cwt (about $265-$270 per ton) for November delivery and there were more reports of rice trading around $12.25 per cwt delivered (about $270 per ton). Tags: U.S. rice prices, U.S. rice news
Oryza Overnight Recap - Chicago Rough Rice Futures Dragged Lower by Bearish Grains Nov 04, 2014
Chicago rough rice futures for Jan delivery are currently noted 1.5 cents per cwt (about $0.33 per ton) lower at $12.315 per cwt (about $271 per ton) during early morning floor trading in Chicago. The other grains are seen trading lower: soybeans are currently seen about 2.1% lower, wheat is listed about 1.3% lower and corn is noted about 2.1% lower. U.S. stocks mainly declined on Tuesday, with benchmark indexes not far from record highs, as the price of oil slid to a three-year low, intensifying concerns about a slowing global economy. Brent crude fell to a more than four-year low near $82 a barrel after Saudi Arabia lowered the price of oil exported to the United States, while increasing the cost to Asia and Europe. The European Commission reduced its estimates for euro-zone growth, projecting the 18-nation region's gross domestic product would climb by 0.8% in 2014 and 1.1% next year, a decline from estimates of 1.2 and 1.7%.The Commerce Department reported U.S. factory orders fell 0.6% in September. Erasing losses, the Dow Jones Industrial Average rose 4.53 points, or 0.1%, to 17,370.77. The S&P 500 dropped 5.02 points, or 0.3%, to 2,012.79, with energy hardest hit and utilities the best performing of its 10 major sectors. The Nasdaq declined 14.40 points, or 0.3%, to 4,624.54. Gold is currently trading about 0.2% lower, crude oil is seen trading about 2.6% lower, and the U.S. dollar is currently trading about 0.1% lower at 9:00am Chicago time. Tags: chicago rough rice futures, U.S. rice prices, U.S. rice market
Oryza Afternoon Recap - Chicago Rough Riceplus Magazine wwww.ricepluss.com mujahid.riceplus@gmail.com Cell: +92 321 369 2874
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Rice Futures Continue to add to Yesterday’s Gains Despite Negativity in Neighboring Grain Pits Nov 04, 2014
Chicago rough rice futures for Jan delivery settled 10.5 cents per cwt (about $2 per ton) higher at $12.435 per cwt (about $274 per ton). The other grains closed lower today; Soybeans closed about 1.9% lower at $10.0975 per bushel; wheat finished about 1.4% lower at $5.3050 per bushel, and corn finished the day about 2.4% lower at $3.7350 per bushel. U.S. stocks mainly declined on Tuesday, a day after benchmarks rose to records, as the price of oil continued its slide and as Americans cast ballots in midterm elections. In congressional elections being held across the nation, Republicans were expected to increase their numbers in the House and Senate, although whether the GOP garners enough seats to take control of the latter body was viewed as too close to call. Brent crude fell to a more than four-year low near $82 a barrel after Saudi Arabia lowered the price of oil exported to the United States, while increasing the cost to Asia and Europe.
The European Commission reduced its estimates for euro-zone growth, projecting the 18-nation region's gross domestic product would climb by 0.8% in 2014 and 1.1% next year, a decline from estimates of 1.2 and 1.7%. Erasing losses, the Dow Jones Industrial Average was lately up about half a point at 17,366.63. The S&P 500 dropped 7.83 points, or 0.4%, to 2,009.98, with energy hardest hit and consumer staples the best performing of its 10 major sectors. On Monday, both the Dow and S&P 500 advanced to intraday records before closing in the red. The Nasdaq declined 26.29 points, or 0.6%, to 4,612.2. Gold is trading about 0.2% lower, crude oil is seen trading about 2.3% lower, and the U.S. dollar is seen trading about 0.3% lower at about 1:00pm Chicago time. Monday, there were 728 contracts traded, down from 1,220 contracts traded on Friday. Open interest – the number of contracts outstanding – on Monday decreased by 154 contracts to 9,778. Tags: chicago rough rice futures, U.S. rice prices, U.S. rice market
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